Ministry of Finance to Provide ￥2 Billion for the New Energy Vehicles
2012-06-04 Source：www.chinabuses.org
Summarize：According to the Ministry of Finance's website, Vice-Minister Zhang Shaochun said the central government will provide as much as 2 billion yuan in subsidies annually starting this year to support the manufacture of new-energy vehicles, as well as to encourage research and development related to energy-saving vehicles.
www.chinabuses.org: According to the Ministry of Finance's website, Vice-Minister Zhang Shaochun said the central government will provide as much as 2 billion yuan in subsidies annually starting this year to support the manufacture of new-energy vehicles, as well as to encourage research and development related to energy-saving vehicles.
He said the first step in that direction will come in promoting the use of hybrid buses in big and medium-size cities throughout the country. Meanwhile, the government will further encourage the use of alternative-energy vehicles in public transport in 25 selected cities, especially for official purposes and in the car-leasing industry.
The measures helped the country's demand for vehicles increase greatly in 2009 and 2010, when China surpassed the United States to become the largest market for automobiles in the world.
AUV Bus BJ6123
In 2009, the central government cut in half the sales taxes charged on vehicles with engine capacities of 1.6 liters or less. The authorities also provided 5 billion yuan in cash to help consumers replace their old vehicles.
The policy helped drive sales of smaller vehicles up by 71 percent year-on-year in 2009. To maintain the growth, the government extended its stimulus measures for another year in 2010. In part as a result of those policies, automobile sales in China increased by 46 percent in 2009 and by 32 percent in 2010.
But, the country's vehicle industry slowed greatly in 2011, when it did not enjoy such support, showing only 2.45 percent in year-on-year growth. That was the lowest rate it had recorded in 13 years. In the first four months of this year, the automobile industry has seen its slow times continue. In the period, it sold 6.42 million vehicles, a drop of 1.3 percent year-on-year.
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